ABILENE, Kan., May 5, 2005 (PRIMEZONE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that its sales from continuing operations for the four weeks ended May 1, 2005 (fiscal month of April) decreased approximately 1.4% to $30.9 million, compared with $31.3 million in the prior-year month. The 20 stores previously announced as closing along with other stores where the decision has been made to close them by the end of the first quarter are excluded from sales from continuing operations.
Same-store sales decreased approximately 3.9% during April 2005 when compared with the year-earlier period. ALCO stores, which generate approximately 93% of the Company's total revenues, recorded a 4.1% same-store sales decrease, while the Duckwall division recorded a decrease of 1.3% in same-store sales. Same-store sales this year in March benefited from a shift in the timing of Easter, which occurred the fourth week of fiscal March this year, compared to the first week of April last year. Because of this shift, the best way to evaluate the Company's same-store sales performance is to combine March and April sales, which decreased 0.4%.
For the thirteen weeks ended May 1, 2005, sales from continuing operations increased 2.8% to $98.0 million from $95.4 million last year, and same-store sales decreased 0.1%.
About Duckwall-ALCO Stores, Inc.
Duckwall-ALCO Stores, Inc. is a leading regional retailer that specializes in offering a wide variety of products at reasonable prices to the underserved communities of America. Founded in 1901 by A.L. Duckwall as a general merchandising operation in Abilene, Kan., Duckwall-ALCO is known for its convenient locations and for its friendly, personal service. The Company has 259 stores in 21 states across the central United States, operating under two names, ALCO and Duckwall. ALCO discount stores offer a full line of merchandise, while Duckwall variety stores serve smaller communities, offering a smaller selection.
Forward-looking statements
This press release contains forward-looking statements, as referenced in the Private Securities Litigation Reform Act of 1995 ("the Act"). Any forward-looking statements are made by the Company in good faith, pursuant to the safe-harbor provisions of the Act. These forward-looking statements reflect management's current views and projections regarding economic conditions, retail industry environments and Company performance. Factors, which could significantly change results, include but are not limited to: sales performance, expense levels, competitive activity, interest rates, changes in the Company's financial condition and factors affecting the retail category in general. Additional information regarding these and other factors may be included in the Company's quarterly 10-Q filings and other public documents, copies of which are available from the Company on request.